Monero Market Went Offline Until January Next Year

Recently, Monero Market went offline. The Monero Market is a dark net marketplace where transactions are conducted exclusively through Monero (XMR).

Fortunately, Monero Market is set to return in January, 2017 according to its representatives.

Monero is an open source crypto currency that was officially unveiled on 18 April 2014 as BitMonero.

This digital currency is based on the CryptoNote protocol and it is witnessing an unprecedented growth in recent times due to a number of reasons.

It possesses considerable algorithmic differences in relation to block chain obfuscation, which means that it provides more anonymity if you are going to compare it to the more popular Bitcoin crypto currency.

For this reason, is it increasingly becoming a better alternative for dark net marketplaces like Monero, where anonymity is paramount.

Well established Bitcoin companies as well as the internet security firms have turned their focus on tackling anonymity on the Bitcoin blockchain.

The ability of buyers and sellers to transact anonymously through bitcoins has been significantly compromised.

According to cryptocoins news, an unnamed representative of Monero Market reiterated this point and speculated on the growth of Monero crypto currency in the coming years.

At the moment, it is among the top five most valuable crypto currencies ahead of Litecoin and Steem.

To a lot of people, this may sound ironic as Monero Market is temporarily shut.

However, Monero Market gave some reasons for their decision.

Through a post on Reddit, they pointed out at the current lack of stimulus for markets that exclusively use XMR.

Monero Market, the first dark net market to exclusively adopt Monero, went offline until January 2017. The decision paves way for development of a new version of the platform.

Monero Market was officially launched on the 30th of September 2016, and on its 20 day existence they have not recorded a single transaction.

It seems like most of the XMR users are holding the crypto currency instead of using it.

The online statement emphasizes that the costs and risks involved in operating the dark net market is not feasible at the moment.

Monero Market has promised to release a developed new version of the platform in January 2017.

The expectation is that, by then there would be more XMR users, and these are users who are actually using the digital currency to buy goods and services online.

It can also be said that Monero Market was launched at a testing time for XMR.

It was launched just two days following the now infamous apparent exit-scam by Oasis.

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